Its looking like another nasty day. All the signs are there for a reversal from this "amazing hot" economy we've been having. Except for inflation. Are we heading into a death spiral or just a soft landing? In June, if CPI is 7.5+, its still way too high. If its below 7.0, its coming down way too fast. Any additional rate hikes going forward is a very bad mistake. The picture is bleak for midterms. I still expect to hear cries for stimulus by July/Aug/Sept time frame. It the only trick Democrats have and it just might be the Republicans who beat them to the punch.
Now this is the thoughtful discourse I come to the DnD for. Not some unfunny comic drawn by some has been or never was.
Most reasonable people equate being insulted with hatred. (eg "libtard") Your general tone of voice is hate filled. What makes Clutchfans an amazing place is it's one of the few bastions where we can have reasonable dialog. (That said, even here isn't immune.) It would be nice if you'd express your opinions without the insults. Sometimes, you make reasonable points but then you undermine own position. Even if other's insult you, you have the option to take the high road. /soapbox
this is something trump and his supporters never learned. having the leader of the country insulting half the population on a daily occurrence is what lead to his downfall. no reasonable person would work for or with anyone that insulted them daily. that attitude defines poor leadership.
probably deserves its own thread. WaPo editorial board getting pretty savage with Biden https://www.washingtonpost.com/opinions/2022/05/11/inflation-biden-wishful-thinking/ Opinion : Biden’s magical thinking on inflation continues By the Editorial Board Yesterday at 11:38 a.m. EDT Inflation is one of the biggest challenges President Biden faces. Americans of all political persuasions are angry about it. They see it as gas and diesel prices hit record highs. They see it at the grocery store. They see it when they buy just about anything, from couches to cars. And they see it in soaring home and rent prices in formerly affordable neighborhoods. While inflation might have peaked in March, it is set to remain painfully high for months to come. Families understand the math: Wages rose an average of 5.5 percent in the past year, while prices surged 8.3 percent. On Tuesday, Mr. Biden gave his most forceful remarks yet on inflation, telling the nation he was taking it “very seriously” and considered it “my top domestic priority.” He should have said this months ago. The White House has been suffering from magical thinking on inflation, and, sadly, that continues. For much of last year, the Biden administration wrongly told the American public that rising prices would be short-lived. When it became clear that inflation would not come down on its own, the White House began a blame game. One of its favorite talking points is to pin inflation on greedy corporations for hiking prices too much. That just doesn’t add up. Corporations did not become far more greedy in the past few months. What’s really going on is basic economics: There’s high demand for a lot of stuff and inadequate supply because of the pandemic, the war in Ukraine, China’s lockdown, crushed supply chains and not enough workers. That’s a classic recipe for higher prices. Mr. Biden also spent much of his inflation speech berating Republicans for hyping up the inflation problems and failing to deliver remedies. He especially went after Sen. Rick Scott of Florida, who did put out a terrible tax plan. But this isn’t what Americans want to hear. While the White House looks for culprits to blame for inflation, it has struggled to articulate any sort of plan. The Federal Reserve has properly taken the lead on tackling inflation. The central bank is aggressively raising interest rates, which should cool off demand for homes, cars and more. Meanwhile, Mr. Biden and his fellow Democrats should be focused on things they can do on the supply side: how to fix supply chains and get more workers into the economy. The White House has made small attempts. It released a record amount of oil from the Strategic Petroleum Reserve to help alleviate costs at the pump, and officials have finally announced some efforts to try to tackle the massive backlog of legal immigrants waiting for authorization to work. But it was disappointing that Mr. Biden made no mention in his speech of bringing aboard more legal immigrant workers, lowering or eliminating Donald Trump’s tariffs, or making additional efforts to fix supply chain holdups. When a reporter pressed Mr. Biden on tariffs, he said, “We’re discussing that right now.” It’s wishful thinking that inflation is going to come down much by Election Day. To show voters he is on top of the problem, Mr. Biden needs to do more than blame someone else for high prices.
record high gas prices, groceries 2x what they were, and no baby formula...and here is the Biden admin handing out another 40 billion to Ukraine. Always take care of your own backyard first. And for the record, I am disappointed in the republicans that support this too, like one eyed Willy.
Hate filled people online generally want attention or respect they don't recieve in real life. He could very well have some decent thoughts if he could communicate in a way that doesn't make people want to tune him out.
There is plenty of oil in the continental US. A few years ago I got in an argument with @bobrek about the price of oil flattening out to q specified range. Bobrek was in a frenzy because I gave a specified range. The point of my post wasn't price, it was to say fracking has completely changed the oil market. This is a temporary blip. Russia is the world's largest oil supplier. The government didn't restrict drilling. The US is energy independent. Our companies probably don't want to risk heavy investment now because this is temporary.
Agree. While inflation will eventually come back down, the price hikes left in it's wake are here to stay - except gas. Gas is the one item that goes up and down somewhat freely. And when it does come down, companies don't want to be caught paying top dollar to drill only to have oil at $50 a barrel by the time they start reaping the benefits. We're really between a rock and a hard place right now.
$40 billion won't have any immediate effect on the baby formula shortage. Addressing the war in Ukraine if it can be ended could potentially reduce energy prices. Also part of the $40 billion is to address food shortages caused by the war in Ukraine. Another part is to replenish US weapons that have been sent to Ukraine.
One of the most successful government projects that has yielded decades of positive results is the Eisenhower interstate system. Think big. Think long. Go long and go deep on: -Early childhood education. Put our best and brightest teaching elementary and middle school. -Space manufacturing and development -Battery and energy technology Inflation is like the commonly found moderately obese American who believe they are just moderately overweight. Decades of poor dietary and life choices will not be fixed with a 2 month gym membership just like inflation is not going to be fixed by raising interest rates and taxing the rich. Its decades of bad policy that will take at least a couple decades to unwind. And like that moderately obese american who doesnt understand why they are overweight and how to fix it, the global economic situation also doesnt fully understand why we are sitting here with a terrible economic outlook. Improving dietary intake and proper exercise can lead to intermediate positive results but it will take a very long time to be in a full healthy state. These will be a couple positive indicators over the next decade: -Stop electing geriatric politicians who's primary directive is to protect their old way of life. -Promoting 3rd world countries to the point where they are not contently going bankrupt due to bad monetary policies inflicted by west/IMF and poor economic policies. -Stop the endless culture wars and self identity politics.
How cute. An over simplification of an intensely complicated concept. There are dozens upon dozens of inter-dependent factors that contribute to inflation. It's like blaming James Harden for missing the game winning shot when he scored 36pt while ignoring Clint Capela's blown defensive assignment at the end of the 3rd quarter. There is endless blame to go around. That said, Trump killing off NAFTA, initiating a trade war with China, and alienating Mexico equates to that blown defensive assignment in the 3rd quarter. Nobody remembers it but that surely is part of the story about how we got here.
